The State Capture Project

The Guardian has published a MUST-READ story on HSBC, based on SWI Director of Investigations Paul Holden’s incredible investigative work into SA #StateCapture. A huge global money laundering network was uncovered through HSBC accounts – $4.2bn worth of payments – and former members at the Department of Justice have suggested that HSBC never disclosed the information it had to US monitors, who at the time were ensuring the bank cleaned up its act.

Paul Holden appears again at the Zondo Commission
He testified that a total of R57,064,461,144.82 was paid by the South African state on contracts that were tainted by State Capture.

Read the Paul Holden’s summaries of his report in the Daily Maverick: Part One, Part Two, Part Three, Part Four, Part Five.

Hear a BBC summary of Zuma’s Arms Deal Trial and the Zondo Commission of Inquiry into State Capture from 31:40-36:45 here.

The Project

During the decade-long presidency of Jacob Zuma, South Africa’s fragile democracy was undermined and corrupted by a plethora of criminal actors. Foremost amongst them were the Gupta family, which used its influence and financial resources to capture major state companies and institutions, and to direct scarce public resources into their and others pockets. The State Capture Project aims to expose and elucidate evidence of this state capture through a program of detailed investigative research. We focus our attention on two of the most egregious cases of capture: the Estina Dairy Project and the capture of the state rail manufacturer, Transnet.

The results of this research will be published and disseminated widely, and can be found to the right of the page. Check back regularly for new publications and other content. The State Capture Project also aims to assist law enforcement initiatives in South Africa and around the world in bringing meaningful criminal charges against the perpetrators, facilitators and enablers of this exercise in grand corruption. To this end, Shadow World Investigations is making detailed submissions to the Zondo Commission on State Capture, which can be found to the right.

Latest: SWI’s Submission to the Zondo Commission Regarding the Gupta Enterprise and Transnet Kickbacks
Read Part 1 of the summary in the Daily Maverick here, Part 2 here and Part 3 here

Resources

The Enablers, a joint report by SWI and Open Secrets, will be available for download from 06/02/2020